Corporate foreign exchange news

Forex market news: Pound to strengthen against euro

Monday, 16 November 2009 09:44:57 GMT

The pound is likely to strengthen against the euro this week, although the publication of the minutes from the latest meeting of the Bank of England's Monetary Policy Committee (MPC) could upset market trends.
Such is the forecast of Daily FX's foreign exchange analyst David Rodriguez, who declared a bullish stance on the sterling/euro currency pair, although the broader outlook remains neutral due to uncertainty over the pound's ability to hold against the dollar.
Traders will this week be looking ahead to the publication of the November MPC minutes for indications of future policy directions. Analysts will also be scrutinising the rationale behind the decision to increase the asset purchase programme by an additional £25 billion, taking the total cost of the scheme to £200 billion.
Mr Rodriguez added: "Traders will want to see the voting for that decision and general commentary on the future of monetary policy, while the previous day's CPI data will likewise play a large part in determining monetary policy forecasts."ADNFCR-2522-ID-19460648-ADNFCR
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